This from Forbes.
Anyone remember 2008? I sure do. Back to the future.The Dow fell 9% this year, while the S&P 500 fell 20% and the tech-heavy NASDAQ 34%.
It's the first year since 2018 that the three indices dropped, and the worst year for markets since the 2008 financial crisis.
In the P-F basket of deplorables.
Also a terrible year for bonds and crypto. Sure is ugly when asset bubbles burst.
Likes pretty much everything in every caliber.
On the whole, we can't complain.
There's nothing civil about this war.
2023 is saying, “Hold my beer. You ain’t seen nothing yet.”Originally Posted by Borderland
The market is a leading indicator for the economy and will not begin to recover until the recession completely unwinds. Most economists think that the recession has not even really begun and that the markets are still waaay overvalued. I tend to agree. In fact, I think that we are beginning a debt death spiral.
I like my rifles like my women - short, light, fast, brown, and suppressed.
In the P-F basket of deplorables.
Likes pretty much everything in every caliber.
Nah dude, they passed the inflation reduction act. It's all good now.
The next few years won't affect us that much with rampant inflation. We're both retired with a good income and zero debt.
I'm not so sure about the average wage earner however. Inflation, job loss, or both, will be a challenge. Like Sensei said. It's a debt bomb not unlike the real estate bubble in 08.
We're preparing to financially help out my wife's youngest son and their family because his job in a tech industry could be vulnerable. They have average debt for a young family.
Last edited by Borderland; 12-31-2022 at 09:53 PM.
In the P-F basket of deplorables.
“This time, like all times, is a very good one, if we but know what to do with it.”
Ralph Waldo Emerson
Sigh, oh well, despite being retired, wife and I seem to subsist OK on our pensions and hobby job income. Guess we’ll let the 401Ks perk a little longer until better days.
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